How much in current assets did Kuithe Corp. report in its 2020 balance sheet? (just enter the number, without any commas or a dollar sign)
How much cash did Kuithe Corp. collect in cash from customers during 2020 ? (just enter the number, without any commas or a dollar sign)
Homework Answers
ANSWER
8. 150000
CURRENT ASSETS IN 2020 = CASH + ACCOUNTS RECEIVABLE + INVENTORY + PREPAID RENT
= 62000 + 26000 + 22000 + 40000
= 150000
9. 227000
CASH RECEIVED FROM CUSTOMER = BEGINING RECEIVABLE + SALES - ENDING RECEIVABLES
= 23000 + 230000 - 26000
= 227000
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How much in current assets did Kuithe Corp. report in its 2020 balance sheet?
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